Contemporary Business BUS508
May 5, 2013
I am a collector of sneakers and have been collecting for many years now. I have grown and have been able to collect over 300 pair of shoes. I think that most individual think shoes or just shoes but there is a lot of history behind the name and the concept of each and every shoe. The two top shoe industries that are totally different but what makes them great competitors are Nike and Reebok. These brands have been around for over a few decades and continue to inspire the growing generation. I will be speaking on the differences and benefits of both also how the brands made a name for themselves.
In, 1960 Phil Knight had a term paper on the concept of creating a new company. Phil Knight being a competitive runner and a native from Oregon wrote a paper on the design and development on how to sell and make shoes (Frisch, 2008). Before Phil created the name Nike. It was first call the Blue Ribbon. According to (Bowerman) who used to develop track shoes and presented his idea to the Onitsuka executives on this design. They loved the idea and was featured in the 1968 Olympics. Phil knew that if he was going to have a chance to get his shoes out there this was the place to do it. The shoe deal was a success the Japanese took upon the shoe designed and Blue Ribbon was on the map and in the first year the revenue from the design was 400,000 (Frisch, 2008). Blue Ribbon had received is extensive contract in 1969 to the Tiger Marathon which really was there first break. Phil and Knight decide it was time to create a new name and a new company. They thought long and hard and one day it was like a blink they came up with the Nike. They had no idea what they were getting into but they knew it was going to be good. By 2007, Knight remained the chairman and his stake made him the one of the wealthiest men in the U.S. net worth of 8...